The north west housing market remains subdued, despite some positive signs, according to research out today.

The latest Housing Market Survey from the Royal Institute of Chartered Surveyors reveals the region has the highest increase in new buyer inquiries in the UK over the past month,

But the number of completed sales per surveyor during the three months to August fell to an average of 14.

The most common reason given by respondents in the north west for sales remaining low was ongoing economic uncertainty, with 87 per cent of those asked giving that answer.

Meanwhile, 80 per cent of people felt a lack of mortgage finance was preventing more transactions happening.

A third of respondents added fears over house price falls were affecting sales levels.

RICS north west spokesman John Halman, of Gascoigne Halman estate agents, who operate in south Manchester and north Cheshire, said: “August is always a difficult month in which to take an accurate indication as to what the market is doing with so many people away and activity levels suffering their usual seasonal dip.

“That said, our own figures show a marked increase in sales in August compared with 2010 and anecdotal evidence from other companies in other parts of the country suggests a similar picture.

“Whilst the mortgage market remains tight there continues to be an improvement in the number of products available with the first 100 per cent mortgage product being offered to the market in August.”

The survey found 57 per cent of RICS members in the north west reported an increase rather than decrease in newly agreed sales. Average stocks on surveyors’ books dipped to at an average of 92.

New buyer inquiries, which signal buyer demand, increased in August, as 29 per cent more chartered surveyors reported a rise rather than a fall.